Forbes Article - U of Iowa in deep financial trouble

[BCClone]

As I understand the legal structure, each Regents University is a separate legal entity managed and controlled by the board of regents. The board of regents technically don't borrow money. The legal entity for each university is directly on the hook through bond financing.

Yes, the school bonds itself, but they have to get the Regents approval on anything even if it is self-funding. I would think with what the stock market has done, that maybe JP could find a couple larger donors to pony up some cash and name something after them to take care of things. Also, what is the total debt load that ISU athletic department carries?

 

[MartyFine]

 

[keepngoal]

So... at $75 million dollar loan, and they cut four sports saving just under a $1 million a year.

Really what this is, is: "he just isn't that into you" That has to burn for the athletes/coaches/staff of those four sports.

wow.

 

[BCClone]

They have the national championships at Iowa City this year and they are going to cancel the program just after that basically. Maybe Barta thought this would take the racism talk out. Idea of any news is good news, even bad news?

 

[Prone2Clone]

Racist football coaches ain't cheap.

 

[jmb]

They have the national championships at Iowa City this year and they are going to cancel the program just after that basically. Maybe Barta thought this would take the racism talk out. Idea of any news is good news, even bad news?

There is serious talk of relocating it.

here is an interesting fact. The university has a youth swim club called iFly. The head coach is a university employee.

 

[keepngoal]

There is serious talk of relocating it.

here is an interesting fact. The university has a youth swim club called iFly. The head coach is a university employee.

Yeah.... the pool isn’t shut down, and the AD encouraged current scholarship athletes to join that rec team and stay at Iowa.

they’ll need to find rentals to replace the athletic depts rent.

 

[Gorm]

Optics..optics...optics....

Iowa Football Coaches Receive Raises After School Cuts Swimming Programs

Assistant football coaches at the University of Iowa will receive pay raises for 2020-2021, even after factoring in a 10% reduction in salaries.

swimswam.com

 

[CysRage]

Optics..optics...optics....

Iowa Football Coaches Receive Raises After School Cuts Swimming Programs

Assistant football coaches at the University of Iowa will receive pay raises for 2020-2021, even after factoring in a 10% reduction in salaries.

swimswam.com

Not good for the "Ferentz is a good guy" crowd. The Ferentz family gets a raise on their already huge gravy train at the cost of 4 sports.

 

[BCClone]

Optics..optics...optics....

Iowa Football Coaches Receive Raises After School Cuts Swimming Programs

Assistant football coaches at the University of Iowa will receive pay raises for 2020-2021, even after factoring in a 10% reduction in salaries.

swimswam.com

Looks like they care about the university and the other sports

 

[cyclonestate]

20 years of running a program filled with racism and the head coach, his son and his son in law walk away with raises to their massive salaries while the department is forced to borrow $75 million and fellow coaches are dumped along with their student-athletes.

How does Iowa's president and his boss, the Board of Regents, sleep at night?

 

[CyTwins]

 

[CyBobby]

Agree 100%. I see Barta going to the Saudis and hocking (no pun intended) the stadium for a big loan.

I LIKE YOUR STYLE.........

 

[BigJCy]

Just announced Iowa Athletic Dept. cutting 40 positions, along with furloughs & pay cuts:

 

[CyTwins]

Just announced Iowa Athletic Dept. cutting 40 positions, along with furloughs & pay cuts:

Ouch

 

[knowlesjam]

This does not impact coaches or senior staff. They were hit with a 15% cut on 1 July. It does impact Barta, who gets hit with a 5% cut.

 

[Pope]

I imagine they could have saved a few of those jobs if they hadn't paid Doyle $1million+ to quietly leave and the other racist coaches $4+ million in raises.

 

[clonedude]

I imagine they could have saved a few of those jobs if they hadn't paid Doyle $1million+ to quietly leave and the other racist coaches $4+ million in raises.

And how much for the sexual discrimination lawsuit? Wasn't that like $6 million?

 

[qwerty]

QC news tonight said a judge sided with U of Iowa Women's swim team and the university has to sponsor them for at least next season. This segment is on CR news.

Court temporarily blocks University of Iowa from dropping women’s swimming

A preliminary injunction was issued by a federal court on Tuesday that will prevent the University of Iowa from eliminating its women’s swimming program for now.

www.kcrg.com